One of the world's largest real estate developers will debut its first major project in Toronto with an ambitious condominium development in North York.
This month, El Ad Group, the international real estate company owned by Israeli billionaire Yitzhak Tshuva, will open its 4,500-square-foot sales centre for Emerald City, a six-tower, master-planned community on Sheppard Avenue, across from the refurbished Fairview Mall and Don Mills subway station.
"This is one of the most luxurious products on the Sheppard corridor," says Netanel Ben-Or on behalf of the developer. "It's going to change this whole area."
The complex will house 2,200 condo suites, including 464 units in a 36-storey tower that will hit the market first.
"We're releasing the first tower, which has the best location with direct access to the subway station and underground connection to Fairview Mall," Mr. Ben-Or says.
Residents will reach the public transit system from the lower level of the two-tiered lobby, where another underground path will lead to the mall's shops and restaurants, medical and dental offices and a new Cineplex theatre yet to be built.
Finishes and features that are sometimes upgrades at other projects will be standard here, such as nine- or 10-foot ceilings, engineered hardwood floors and contemporary kitchens with granite countertops.
The condo will also incorporate many "green" aspects, from energy-efficient technologies to a lush park at its centre. "It's totally different than what you usually see in Toronto," Mr. Ben-Or says. "We are lucky to have this huge, green piece of land."
The green space will be designed with families in mind. "Kids can go from every tower down to the park without crossing any streets," he says.
Hotel-style amenities in the first tower will include a spa area with indoor pool and whirlpool that opens to a landscaped terrace, a fully equipped gym and yoga studio, along with a Gymboree area with kid-sized equipment and play space.
"When the parents are exercising in the gym, the kids can play next to them," Mr. Ben-Or says. "There is a glass wall to the Gymboree, so you have eye contact with the kids all the time."
The west wing's fifth-floor rooftop will have a party room with a kitchen, games and entertainment areas, a theatre and a terrace with a reflecting pool, private cabanas and sunbathing and barbecue areas.
Room layouts will range from one-bedroom plans to two-bedrooms with a media room, though most units will offer one bedroom and a large, multipurpose den, which Mr. Ben-Or says was designed "in a way that people can use it as a second bedroom."
Every suite will come with parking and a complimentary one-year Metropass.
The builder says monthly fees will likely be less than 45 cents a square foot.
Occupancy is slated for 2011.
- EMERALD CITY
- LOCATION: North York
- BUILDER/DEVELOPER: El Ad Group
- SIZE: 540 to 1,200 square feet
- PRICE: $189,900 to $500,000s
- CONTACT: To register, visit www.emeraldcitycondos.ca
Special to The Globe and Mail
